I don't want to retire yet
What if I don't want to retire yet?
You do not have to retire when you reach State Pension age. You can continue to work while you claim your State Pension, or you can put off receiving your pension until later and get more State Pension each week. Or, if you have put off getting your State Pension for at least 12 months continuously, you can get a one-off taxable lump-sum payment.
Read or print Your Introduction to State Pension Deferral (SPD2)
Working for longer can help you to build up a better income for when you retire, as well as making you better off now. Nowadays people are living longer, which means that it is more important than ever to plan ahead for your future.
You could also think about a more flexible approach to your retirement. You may not want to retire from work altogether – you may want to consider working part time, changing jobs or reducing your responsibilities. You need to consider which option is best for you and helps to give you the income you want before and after you retire.
Pension Credit: are you 60 or over?
In certain circumstances you might be entitled to Pension Credit or another income-related benefit when you retire, depending on your household income and other savings. Pension Credit guarantees a minimum weekly income of £119.05 for single pensioners and £181.70 a week for couples in 2007/2008. These amounts may be more for people who have caring responsibilities, are severely disabled or are responsible for certain housing costs such as mortgage interest repayments. If you are aged 65 or over, you may get extra money if you have made modest provisions towards your retirement.